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in additional defense savings over the next decade. these cuts are part of a balanced budget of deficit reduction. these cuts are backloaded, occurring mainly in the years beyond f.y. 2018, which gives the department time to plan and implement the reductions wisely and responsibly, anchored by the president's defense strategic guidance. let me turn to the details of the president's budget request. $526.6 billion budget request addresses the compelling demands of supporting troops in afghanistan, protecting readiness, modernizing the military's weapons inventory and in keeping with the president's strategic guidance and sustaining the quality of the all-volunteer force. today's budget request contains a placeholder request, mr. chairman, for overseas contingency at the f.y. 2013 vel, and the submission does not include a formal request because afghanistan force levels and deployment decisions for this year were delayed in order to provide commanders enough time to fully assess requirements. we will be smithing a budget with the -- submitting a budget and account level detail. the base bu
deficit request makes some very tough choices. it cuts the department's budget by roughly 2%, below 2012 levels. but it's the least consistent with what the congress appropriated in 2013 for the epartment. stepping back and thinking of all the challenges that our country and this department have faced since 2009, christmas day bomber, time square bomber, yemen cargo bomb plot, hurricane sandy and the ever-changing and ever-growing cyberthreat, and now the boston attack, it's easy to become concerned with this budget request. that said, we're facing extremely difficult budgetary times and sacrifices must be made. and while i recognize important missions may not receive all of the funds they or we would want in a perfect world, all departments and agencies in government must share in the sacrifice to some extent required to iranian in our deficit -- rein in our deficit. our secretary seems to have taken this message to heart. identifying some $1.3 billion in cost savings this year and more than $4 billion since 2009 and continues to move to a risk-based approach, an effort to save more mon
significant problems, and i think if we don't address the deficit, if we don't address it, i've become more and more convinced that we don't necessarily go gradually into problems, that we could go precipitously into a problem. and i say that with reference to 2008 and to the crisis. that i think there is even when things seem to be going pretty well, there is and are some lurking dangers within our economy. one would be interest rates rising. and i ask this question all the time to people i consider to be, you know, smart, big bankers, people in the major capital centers of the world, can we control interest rates and keep interest rates low? is there a breaking point at which the central bank cannot keep interest rates at this point? because interest rates at 5%, interest rates of 7% or when i was a kid, interest rates of 19 president or 21%, i think, would be catastrophic with this burden of debt. seems to work right now, but i also think that there's a certain illusion both of wealth in the stock market and an illusion of the ease at which we can manage our debt. and so those are my con
. the heritage foundation put out a study in 2007 saying there would be a negate afct on the deficit. a person who worked on a study in 2008 argued illegal immigration heard the employment chances and wages of black americans. so there's disagreement on the issue anders understandable concern about making a big change in our laws. host: here is the headline of -- wall street journal we will hear more willrebecca in a moment -- we will hear more from rebecca in a moment. first let's hear from marco rubio discussing the bill yesterday. [video clip] >> let me close with one final point to my fellow americans who share my commitment to limited government and free enterprise who helped elect me in 2010. i would remind them america is a nation of immigrants. republicans and democrats have failed to enforce the law and the result is we have millions of people here against our immigration walker. but we're not going to deport them. let's secure the border. let's bring these people out of the shadows. there will undergo a background check. they will pay a fine and start paying taxes. it will not qualif
immigration makes us a richer country not a poor country and ofps out on questions deficits and economic growth. from a center-right perspective and one of the groups with talk to in law enforcement as you go state to state, the austin chief of police is a big advocate of comprehensive -- when we were in indianapolis, same thing. we always talk to our police officers and to the guys with badges as well as the business community and religious community. thank you and thank you mr. chairman. around.l do the last i know it has been a long day for the witnesses. when the fbi was investigating travel, he did not find his trip to russia. they typed in his name incorrectly. our bill requires that travel exit data be base by swiping the passport. we are making sure it is machine-readable on exit. dhs says this would have helped the fbi in this case. do you agree? >> yes. absolutely. >> good. one example of many where we are tightening things up. that would have been relevant. now, i mentioned this to your previous witness from your group. i guess you are the second witness. you folks are not onl
cost to taxpayers have skyrocketed, despite assurances it wouldn't add a dime to our deficit. mr. messer: worse yet, the really sick who can't find health care because of pre-existing conditions are being denied promised health. lost coverage, higher premiums, more taxes and bigger government, that's the reality of obamacare. now, one of the senate's creators of obamacare is warning of the impending train wreck coming with implementation of the health care exchanges next year. mr. speaker, this congress needs to derail obamacare and start making promises we can keep. i yield back the balance of my time. the speaker pro tempore: the gentleman yields back. for what purpose does the gentleman from california seek recognition? >> request unanimous consent to address the house for one minute and to revise and extend my remarks. the speaker pro tempore: without objection, the gentleman is recognized for one minute. >> mr. speaker, during national park week, we celebrate perhaps america's best idea and remember that these parks belong to all the people of america. mr. costa: since they
, there are things across the board, whether it's health care issues, energy, reducing the deficit and the debt for margaret and george matheson and future generations, all of those things add up and matter. i'm going to talk for a few minutes about one proposal that i have in front of the house of representatives that's going to come up for a vote here after we return from our district work week. before i do that, i want to tell you, mr. speaker, tonight that we are going to do something a little bit differently in an effort to engage individuals and their interests about making life work for american families. i just want to say, mr. speaker, that if someone wants to know more about what we're talking out tonight, the #on twitter is making life work. we want to hear from the people that we represent, mr. speaker, throughout our time on the floor tonight. o i would just say to you, mr. speaker, that any individuals that would like to know what we are talking about or engage, it's #makinglifework. with that said, i would like to talk about before i introduce my colleagues who are going to engag
, prospective increase in debt or deficit because we buy more or spend more or cut revenues more. the debt limit, as the gentleman so well knows, deals with what we've already done. doesn't have anything to do with increasing what we're going to spend. the budget does that. now, we're not dealing with the budget, but there is discussion dealing with this prioritization. frankly, we should have made that determination when we spent the money, and both sides have spent a lot of money. our country is determined to spend a lot of money. two wars cost us a lot of money we didn't pay for. i'm not going through the litany. the gentleman knows that litany, but somewhat ironic, when we're not dealing going to conference on the budget deficit but we're talking about prioritization of the debt we've already incurred, i think the american public understand that raising the simply awh we've already done and that we're going to pay our bills. we're not going to welch, we're not going to default. the most credit worthy nation on earth is going to pay for what it bought. so i would urge the gentleman to not to
sure it is deficit neutral. that is one of our bottom lines. thank you, everybody. >> senator chuck grassley is the ranking member. this is an hour and 40 minutes. >> the committee can come to order. for the delay. is a deal going on in massachusetts. i hope everybody can understand why the secretary of wonton amo will not be here. -- secretary will not be here. we will reschedule her testimony. she was saying how proud we are of the way that law enforcement .as responded i am distressed to hear an officer being killed. i see at least one person who runs marathons in the audience. my daughter and youngest son do. most marathons are a joyous occasion. the bipartisan proposal, we have established a path to citizenship for the 11 million undocumented immigrants in this country. it addresses the lengthy backlog in our immigration system. agricultural workers are in essential part of our communities and work so hard to provide our nations food supplies. it addresses the needs of our .aw enforcement community it improves the treatment of refugees and asylum seekers. i appreciate the fact
, because their defini deficits and debts are high. but they do have a choice about the pace of consolidation and of course how they structure their government. in some cases, certain kinds of spending, infrastructure spending, are probably not going to impair your long-run sustainability. so the composition of spending can be more growth friendly. but countries need, also, to consider other prolss and europe needs to consider other policies to be supportive of growth, since consolidation will have to proceed, even if it's proceeding at a slower pace. >> does the imf want countries sellheir gold? that might be the impression that people would have got often the events of the last couple of weeks. >> no, we don't have a view on that subject at all. >> even though cyprus, in the memorandum of understanding that's been leaked, it looks like cyprus has been asked to do that. >> i think cyprus may choose what cyprus may choose. look, countries may privatize a range of assets if they need to privatize assets and those can be companies. there's nothing wrong with a country selling i
, the last child in the woods about children's nature deficit disorder, as he calls it. this has happened slowly. it started with writers like jack london and william long that theodore roosevelt called major fakers. that put -- we go through how we began increasingly to get our views of nature digitally and on screens rather than hands-on a stewardship kind of things. and so we took ourselves out of the storage of business. we took our cells out of the prediction business. huge swaths of the white tailed year's historic range, which is that eastern one-third of the united states, it's off-limits to human predation, and there is all sorts of evidence not to suggest that the biggest predator of white tail deer since the end of the last ice age is not wolves and cougars but human beings. so -- and i had messages is wildlife do a study. two rules which we all think of much. you cannot discharge a firearm within 150 feet of a hard surface road in massachusetts or thin 500 feet of an occupied dwelling. massachusetts has a lot of rose and a lot of people. it is the fourth most dense -- per four
deficit. we have a broken system that needs to be reformed. i'm afraid we'll rush through some judgments related to immigration and how it's processed. >> george, with respect, i think that as bad an idea as calling this enemy combatant. we have 100% rate of prosecuting terrorists. i think that's the bad idea on the senator mccain. i think the idea of delaying immigration reform, if you ask involved in immigration, this is a horrible idea to take this isolated, horrible, evil incident and make it stand for a larger politics and put immigration reform, put the brakes on that. >> congressman? >> it's not the right thing to do. we're a nation of immigrants. i trust our government. we vet people up and down. we review policies every day. but to put it on hold is not in >> i agree with the congressman. they'll deal with 11 million, 12 million people in this country who are still living in the shadows. we need to integrate all americans in society. we want to main stream them. i think we should move it faster. we thought about this for years, economically but also in terms of our national secu
it is deficit reduction without a tax increase. i think it is the kind of deficit reduction that we can get bipartisan support for in the country. what about public education? public schools don't teach children how to read english marry well and don't teach american history. it is being worked on a state- by-state, but that is the problem for kids who are born here as well as everybody else in terms of the quy of ucey getting. bill clinton worked with the republican congress to reform aid to families with dependent children. none of those are arguments for getting in the way of immigration before. then there's the question of entitlement. the entitlement system is out of whack and needs to be reformed. let's reform public education and the welfare system, but let's move forward now on immigration reform as well. thank you. >> thank you very much. you talked aboutany .mmigrants who are not legal they have no legal recourse when something happens, if they are $20 and youpay you have no legal recourse. my wife is a registered nurse. we were driving near los angeles. a well-dressed person with
to the economy championed by republicans. call it an obsession with the deficit or demand for austerity that's been coming from all quarters of the republican party since 2008. >> we can't continue to spend money we don't have. >> we can't just keep spending money we don't have. >> it's time to cut spending. >> unfortunately, the facts do not support their thesis. there is now a chorus of commentators, businessowners and corporate titans, who all accept that taking chunks out of an already melancholic economy will do nothing but sustain the misery. an individual who runs the world's largest bond fund said this in an interview. "the uk and almost all of europe have erred in terms of believing austerity, fiscal austerity in the short term is the way to produce real growth. it is not. you've got to spend money." yet, despite this expert opinion, the republican party led by chairman reince priebus launched a twitter campaign yesterday attempting to blame the president for a policy that they, themselves, absolutely adore. it was pegged to the increasing impact of sequestration on domestic air tra
as he can possibly create in order to justify higher taxes, more spending, more deficits. everyone knows what this play is all about. >> go ahead, steve. fight back. >> well, congressman, wasn't john boehner in the room? wasn't mitch mcconnell present for this sequester? >> absolutely. >> so why are you saying it's the president's deal? >> it was the president's idea. and he just signed a bill -- >> have you guys -- >> to lock in these sequester levels. >> by the way, that's not true, steve. hold on a second. all these guys on the appropriations committee in both the senate and the house have offered to liberalize rules for sub accounts. by the way, the administration has a lot of leeway on sub accounts. guy benson, i come to you again. okay, i'm in favor of the darn sequester. it's not perfect. but some place, sometime, you've got to cut spending and i would rather do that than raise taxes. >> i agree with that, but do it in a slightly smarter way. >> that's what i'm asking. >> they passed laws that would replace sequester. the president, his idea. he signed it into law. >> how did it p
deficits. you know, have a plan for tax reform, the spending programs, ensure the debt's not going to explode. be cognizant regulations have benefits, but costly as well, and just say we're committed to growing over the long term, not for this month or in this bill, not when we think of it between other events. have that commitment. >> douglas holtz-eakin, thank you. >> thank you. >> doug has a long term plan, that's for sure. >> breaking news with boeing. the head. faa says they completed all tests and analysis of the redesigned 787 batteries. they hoped to get the commercial fleet back in the air this month. that seems to be, if accurate, seems to be a step in the right direction. >> we'll see. breaking news now in oil, closing up one penny at $88.72 a barrel. today's slight gain snaps a three day slide for oil. >> gold rebounds from the biggest one-day drop in more than three decades. is now the time to get in or get out? we got the answer. >> as we do every day at this time of the day, look at the 10- and 30-year treasuries as we head to break. we'll be right back. ♪ [ cows m
changes in tax expenditure, though we need a credible plan to deal with the deficit. in listening to democratic and republican colleagues, there is enough common ground and if we could find a mechanism to negotiate in good faith we could reach a so-called grand bargain. host: william on twitter says the private sector and businesses have had to cut back , resize and reevaluate -- why should the government not have to do the same? martha, florida. democratic caller. we have talked about why they have not work together and this has been going on and on aaron it is like mutiny against .he president -- on and on it is like mutiny against the president. i would like to know how grover norquist can get pledges from members of congress because that is like our votes do not even count. when will these people wake up? every time the republican party -- it is like mutiny against the president. i am tired of it. host: ok, martha. you are exactly right, these third-party pledges are not helpful in the political process. it is important for me as a senator to listen to both sides of both issue
. health care, taxes, deficit. we can talk about his leadership. the president can only run this country when he is dealing with leaders. we know these are not leaders now. they are cowards and selfishness and they have lack of leadership that that put us in this position now where they voted against something that 90% of the country supports, first of all. they voted against something that is right for our country and right for our society. and might make our society just a little bit safer. but they voted no. because they are cowards. and they put themselves in a category that, quite frankly, and i hate to see this, but put the themselves in a category that helps people like this, al qaeda terrorists. take a look. >> in the west, you've got a lot at your disposal. let's take america as an example. america is absolutely a wash with easily obtainable firearms. can you go down to a gun show at the local convention center and come away with a fully automatic assault rifle, without a background check, and, most likely without having to show an identification card. so what are you waiting fo
are doing major work on the deficit this year. that is slowing the economy. later on the economy can accelerate. overall, it wasn't as bad as it looked in the fourth quarter. it wasn't as good as 3% to 4% if r the first quarter. i think it's good enough. >> wow. a lot of people would take that. you ian say -- i mean, talk about a silver linings playbook that the collapse in goal removes an impediment to hardball asset pricing. with you explain that? >> we have seen a lot of markets are very out of whack in recent years. that causes people to make strange investment decisions. also to cash accounts. still too much money sitting in cash accounts. but it doesn't tell me anything important by the global economy. it just tells me that one side show was that distraction for a lot of investors is ending here. so it's funneling money back in towards long-term inmentes in real estate, in business, in equities. that's where we want to see money invested. >> does that mean you take a gamble on the technology? we'll get results tonight or is this a general bulls market? is that the safest way to
spending, allowing the country to meet its 5.5% deficit target for 2013. this follows parliament voting down other measures, throwing the country's needed fund-raising into doubt and raising concern more broadly about the eurozone. but now it looks as though spending cuts compensate for the austerity measures that were rejected by the court are going forward. so perhaps providing some relief to those worried that this would throw the eurozone's progress into doubt. not a major move on the back of that news. >>> straight ahead on "worldwide exchange," uk retail sales figures for march will hit the tape in just a couple minutes' time. we'll break down those numbers for you live. >>> plus, strong first quarter results. can they maintain their edge? >>> welcome back tos with was. these are your headlines. stocks in europe recovering from the worst day in nine months. performance from basic resources amid concern about declining commodity prices spp fear of falling demand for iphones and ipads is veding to asia where shares of apple suppliers itemeled. >>> and voting on the next italian pres
. thank you for reminding me again. look, economics are fiscal situation, the deficit, the budget, are all threats to the security. there's a lot of physical seen and unseen threats out there that perhaps are different even from when admiral mullen made that comment. i align myself with the economic piece of it. there are just groups out there that threaten us. ? 0. >> thank you. it is important for us, i think to remember the president's budget despite proposing significant tax increases would still contemplate adding $12.db $2.5 trillion head by the total public. .. >> future years covered by the budget control act. will we continue to see budget that is ignore provisions, ignore the sequester provisions? can you expect budgets like that to be sent to congress that don't reflect the law? secretary hagel? >> the fy15 budget we'll present
issue. >> reporter: he says that is bigger issue, solving the deficit. >> gregg: there are support others both sides of the aisle on this. how are they responding? >> a lot of bipartisan support. coats and grassley are outnumbered. they say this reform bill is a national security bill that will make america safer. it will have multiple background checks and for the first time to prevent people from overstaying their visas by checking airport departures. >> there are some, some on the hard right and otherwise that oppose our immigration bill from the get-go. they are using this as an excuse. we are not going to let them do that. if they have a reason or suggestion how to change it based on what happened in boston we'll certainly be open to it. we're not going to let them use what happened in boston as an excuse because our law toughens things up. >> reporter: the senate holds second hearing tomorrow. >> gregg: coming up, 6:00 on fox news sunday, boston police commissioner ed davis recounts in his own words the massive manhunt for the boston bombing suspects. >> heather: the only liv
about debt and deficit spending. and in this sense it all ties back together. >> well, what's driving our spending and driving our debt is the fact that there are 10,000 baby boomers like me retiring every day. 70,000 this week. 3.5 million this year. social security, medicare, there is no money there in those fund. it has all been spent. people are living longer, accessing medicaid. so the real drivers of the debt primarily are our big entitlement programs that won't survive in their current form unless we make some changes. so it has got, it really has nothing to do with what we call the discretionary spending pot. bill: understood. homeland security spending is not touched? >> we have the sequester because the president won't get serious about solving our big spending problem. he insisted on the sequester. they may have an impact but i don't believe that it's going to affect our counter terrorism activities or affect the ability to protect the american people. bill: what about the immigration debate? there's a lot of talk right now this will sideline that movement in the house or s
to push back. there is a deficit of trust with this president, his administration in light of benghazi. american people are very suspect what we're told, especially now when there is a contradiction. if the justice department is wrong or right, that has to be determined by the administration immediately because either he was or he wasn't or yet to be determined. one thing is for sure -- now there is a contradiction between the executive branch that must be dealt with. >> megyn: you know, simon, it's newsweek, daily beast citing one intel official. steve hayes goes on to say, according to officials that spoke to weekly standard, both comments reflect the obama officials who were involved with the investigation. this is not an al-qaeda central inspired or instructed attack. you know why people are going to look into this. the president's critics feel he is too quick to dismiss terrorist inspiration from outside the country in attacks we've seen attempted here. >>> well, think what the administration has said as opposed to scary with us yus people that work in the administration, white ho
the deficit by ending taxpayer funded portraits of members of congress. these paintings cost you tens of thousands of dollars called the eliminating government funded oil painting or ego agent. okay. there you have it. the gsa asks congress for a billion dollars in taxpayer money for courthouse construction, but another government agency says it's going to cost a whole lot more than that, triple the amount, try 3.2 billion dollars. congressman joining us now, the chairman of the committee on transportation and infrastructure. congressman, this -- the initial number, a billion dollars, requested for courthouse construction, do you think that's too much? >> well, when you look at it, it looks at the -- a billion dollars is too much, but when the gao did a study, they believe it's going to cost $3.2 billion. this has been going on for quite some time. in fact, for several years now, i've been fighting the issue with the gsa and federal judiciary. the federal judges are in working with the gsa to develop the courthouses. they overbuild them. they use numbers projecting out numbers of judg
on congress to replace the dumb sequester cuts and put instead in place a smarter approach to deficit reduction. >> republicans are charging politics. this is from bill shuster, the chairman of the transportation and infrastructure committee a republican. this disregard for the american public is indicative that the administration views as the sequester to attempt to score political points rather than address real issues and find real savings in a bloated federal bureaucracy. the airline industry says that these cuts could be designed much better. they say they have been designed for what appears to be maximum impact. they are suing the faa to try to overturn the way these cuts have been structured. back to you. melissa: we are up-to-date. thanks to you, rich edson. melissa: despite the faa's dire warnings so far flight delays seem to be anything but sequester-related as you just heard. is this another example of the faa crying wolf? let's ask mary schiavo. former secretary with the transportation. faa playing politics. >> they can rely on constituent group, airline and air port opera
the story has national implications for the u.s. deficit. for sequestration, furloughed federal workers, those workers are being found to be taking those benefits while they are on the job. so when it comes back to the u.s. government they found 13 of these employees lying to the federal government saying we are still out of a job so we still get the government benefits. that is why the story has major implications. we may see this in other parts of the country given co-worker furloughs happening with the federal government. tracy: this is a joke really because anyone can gain it and play it. this is why we are in debt. adam: lot of cheating going on but this could spread to other states. tracy: we are wondering what we are seeing indicates the treasury department and inspector general has launched what is being called operation double dip. not just irs workers from double dipping, getting laid off and still getting government benefits that this is on the heels of the recent report that showed federal workers boeing $3 billion in back taxes, all levels of government, treasury is not as
.o.p. including republican representative bill cassidy propose the ego act to cut the deficit. the act prevents taxpayer funds spent on portraits of members of congress and heads of federal agencies. cassidy says spending money on portraits when the national debt is $17 trillion is far from appropriate. meanwhile, mortgage rates down for a third straight week at the housing market continues to recover. according to freddy mack, the average right on a 30-year fixed mortgage is 3.14%. move over, hybrids, gm's 2015 turbo diesel gets 46 miles a gallon making it more efficient than the gasoline electric combined vehicles. it's rolling out in markets like baltimore and milwaukee next month. that's the latest from the fox business network giving you the power to prosper. ♪ we went out and asked people a simple question: how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed: the official retirement a
-called grand bargain we could devise a balance deficit reduction package for one year that avoids sequestration in fy 2014. we simply cannot continue to ignore the effect of sequestration. sequestration will have a major impact on military personnel. though the pay of military personnel has been exempted, the sequester would reduce military readiness in the services for the troops including schools for military children, family support programs and transition assistance programs and mental health and other counseling programs. the president's budget request continues a major drawdown of active duty and reserve strength. we have in recent years given the department numinous force shaping authorities to allow it to reduce its strength in a responsible way ensuring that the services maintain the proper force mix and avoiding grade and occupational disparities, all of which have long term affect. if sequestration continues, the result would be ore pripitous foe structe that is ou of t the requirements of our defense strategy. sequestration has already affected military readiness. we have heard test
-inflicted wounds without adding one penny to the deficit. we've provided money, the money is there, we haven't spent it, we don't need to. we can use the savings from wrapping up two wars to avoid the full brunt of the sequester's arbitrary cuts. the congressional budget office said that would score; that money is available, it is money we could use. funding for the operation in ir a afgan has in alled overseas contin yeype account. since the worst of the seq cuts are creating an emergency situation, we should consider using thighs funds to offset their impact. these really are emergencies and we should do it. i am not proposing we use them to offset the entire sequester but congress has the power to avert the most painful sequester cuts using these mexico. 28 republicans in the senate and 174 republicans in the house would impose these sequester haphazard cuts. if those same republicans work with democrats, we could act to protect families and businesses and ensure our national defense and save millions of americans hours waiting at the airport. i suggest the absence of a quorum. the presi
account deficit will leave the rbi more room to cut interest rates. back to you. >> sixuan, thank you very much indeed for that. lower oil and gold boosting the inn market. >> precisely and significantly. there wasn't much else throwing life into the market. >> there's always a different correlation somewhere. >> a silver lining? maybe. >>> the dow s&p 500 and nasdaq tumbled to their lowest levels yesterday since november. joining us now, gina sanchez. welcome. >> hi. >> so is this it, is this a buying opportunity? do you look at all the declines that we've seen and decide that this is now a pivot point? >> well, i've been calling for consolidation sometime, you know, generally around april is when you start to see a consolidation and then you sell in may and go away. i actually think that is probably going to be what it's going to work out to. obviously, we're getting the signals that have been driving some of this consolidation have been growth. obviously, the bad news at the end of the day with what happened in boston, that wasn't what was driving the markets. what was driving the marke
was not the fault of the american people. our deficit is going down. we need to determine what revenue that we can increase in order to pay our bills, provide for the basic necessities of this nation. not only is the tragedy in boston one of human life, but it is a disaster that will require federal emergency management aid just as our continued friends in the southeast and northeast are still suffering from hurricane sandy and the atrocity of this house cannot provide them with resources for 65 days. i believe that it is time for the american people to know that we do care. in order to care you need to have. budget conferees to go through the budget process and begin to pass elements of the president's budget that speaks to the heart and mind, mr. speaker, of the needs of the american people. i conclude by offering, again, my deepest sympathy and promise to those who suffer that america and its congress must stand up and respond to your needs. i am ready to do so as my colleagues are. we should do it now. i yield back. the speaker pro tempore: the chair recognizes the gentleman from nevada, mr. h
way to do it. i don't think it had to be done. the deficit is coming down. >> i want to get your opinion on one other subject, which is this debate going on the last day on your world of economists and whether the original survey or study was accurate. do you have a view on that, mr. liesman. >> i think i did the first interview with row goff at this conference four, five, six years ago when he first came out with the paper. i always thought the 90% threshold concept was bunk. and i'll tell you why. >> just explain to the viewers what the threshold was. >> this was a threshold above which their paper suggested that you would have lower potential growth. and the controversy is that some guys went back and looked at their spreadsheet and found they didn't do the right formulas in the spreadsheet. so the number is actually positi positive, not negative. the debt capacity of greece and averaging it with the debt capacity of the united states, and coming up with a single number that applies to the united states, to me that was bunk to begin with. it takes time after a financial crisis
the sided search for a piece deficit that i don't think exists. we went to that in the '90s. to undermine the readiness and capabilities to get the arsenal and they are expanding. we should be expanding hours. but to have a significant impact of the capabilities to reach the intelligence community just in time when we need it the most. to be asked about the effects of sequestration of the intelligence community and i have quoted you several times on this and it is very profound. olmec we're cutting real capability and accepting greater risk for intelligence shorter hours for public parks or longer lines at the airports for intelligence it is insidious. the capability you don't know about that until you notice that. you'll notice ny when we have the same" end quote. and i think that is the belief and the reasonthat is in the military is super bear to deal with threats around the world has the intelligence community uses capability.we are making us lese and i look to our witnesses how the current budget cuts accurately assess these threats especially those separate from resources. such talk
to have sustained and balanced approach to both reducing the deficit but making some of the critical investments that we need to make, and actually the budget anticipates -- >> we are all -- i should add, start in row. we are all cheers about the magnificent contribution to brain research. thank you. >> i think that's an example of the presidency believe that we ur proper t sinst, and certainly scientifc sech is one of the most critical investments to keep the innovation and research at the front and. so we very much support outlining the mapping strategy which could have a huge impact not only on the future but we think about health costs related to everything from autism to alzheimer's, and if you want to really get our arms around what's happened to health costs in the future, just brain mapping, has an enormous impact. and as you say, i think dr. collins estimates that is about a 71 return, that every dollar in research grant generates about $7 in economic activity in the community where those research grants end up in terms of jobs and scientists. so this is clearly a win-win in
a trillion- dollar deficit every year. the company's debt to gdp ratio is a 73% and expected to get worse. one thing is to use this money to improve the country's financial position. interestingly, in his budget, and in discussions and rhetoric, there are also tax breaks for multiple other industries include the alternative energy industry which he included in his 2013 budget to continue to provide support for that industry. a portion could be used to subsidize or provide tax expenditures for that. host: are taking your calls as we discussed oil and tax breaks. the fault numbers are on your screen -- -- the phone numbers are on your screen -- we will go to st. louis, missouri. caller: hello? we have seen time and time again that when we raise taxes on corporations, it is not just raising taxes on the corporations because it is often passed on to the american people with an increase of the price of the commodity. what are your thoughts that if we go aohis, we see the price of gasoline go even higher? guest: i have done some work on this issue. i believe there will be an impact in terms of
today to address three issues. number one, the economic deficit of less skilled immigration. the u.s. work force is changing american family is having fewer children and birthrates are now well below levels. 10,000 baby boomers are retiring every day. and the lush and her workers coming behind them are much more educated than their parents. in 196064% of american workers were high-school dropouts. today the number is less than 10%. together these three factors have had a dramatic effect on the pool of americans available to fill low-skill jobs. it is no accident that my members are constantly complaining about the difficulty finding workers. the pool have to draw on a shrinking. for those seeking higher, unskilled man of prime working age the supply of u.s. workers is literally half the size it was in 1970. if a thing, demand is growing. in $0.195,525 of every dollar spent on food was spent in a restaurant. today it is $0.50. one of the fastest growing occupations in america is some help aid. many less skilled immigrant workers and only then increasingly in years ahead. aside from
forms of punishment. commands is the prerogative to -- it is the commander deficits sitting in judgment of that person. commanders do have a law enforcement function. on punishment. you cannot receive confinement time. you could have to forfeit some money or be reduced in rank. because ofat, -- ont, there is a cap punishment. you are facing more punishment. tends tole 15 system work fairly well in the military. it hinges on the commander understanding the rules of evidence -- the elements of the offense and being able to apply the facts and to have that article 15 hearing in a way that enables the individual to get their story out and hopefully justice is served. think nowadays article 15 are enders andrews -- career in many cases. we want them to learn their lesson. i do not see that happening a lot. host: retired colonel lisa windsor was an army judge advocate general and now serves as a practicing attorney. gloria from north carolina. caller: good morning. why hasn't the perpetrator of the massacre at fort hood, why hasn't he been tried? years.been several it is so obvious. witnesses
be really surprised if that actually happens near term. >> why? >> the budget deficit situations, the debt situations in germany and france are certainly so much better than the rest of the periphery. why now? what has suddenly happened now? certainly growth there's very vulnerable. unemployment rate for all of europe, now 12%, a record high, the ecb's reluctant to ease because they don't think it'll actually help where it needs to help with lending small and medium-sized businesses. but those thing alone, to me, wouldn't justify a downgrade now. but it does to me, bigger picture, just remind us how nervous the markets are. i think that's the take away. >> you said going back to the things you said are somewhat positive. wealth effects, you've got home and equities. >> yep. >> although people think the consumer is not great and that it's still deleveraging. you've got politics, not as much of a head wind as it was. china slowing, but not a hard landing. >> right. heard that from the director. >> central banks are getting easier, maybe not here, talking tapering, the rest of the world getti
but missing the main culprit -- a shellshocked u.s. economy. >> joshua gordon says that the deficit is continuing to expand because of job loss, causing less revenue and more spending on aid programs. >> you have a large deficit for four years because you have low revenues and people don't have jobs, or they're getting paid less. but also we have this mandatory spending program, which grow on autopilot. unemployment compensation, food stamps programs, medicaid-- they spe ecy is evils are here," says that the entire financial crisis is unclear. >> i think that the underlying issues of the financial crisis have not been fixed at all. indeed, there is no easy fix. >> but there are still fixes to consider. >> if we want to lift the cloud of debt that is hanging over our country -- we will not solve the problem of our fiscal imbalance overnight. what we can do is avert the cliff in a manner that serves as a down payment on, and a catalyst for, major solutions enacted in 2013 that begin to solve the problem. ♪ >> if you can reduce and then eliminate the deficit through two ways. one is
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